Vitruvi Software To Be Acquired By Bow River Capital

Calgary’s Vitruvi Software has been acquired by the Software Growth Equity Team of Bow River Capital, a Denver-based alternative asset manager.

Spun out of Fresnel Software in 2016, Vitruvi is a GIS enabled construction software platform that drive efficiencies, increases data visibility and reduces costs in the network, power and utility sectors.

Last year Vitruvi was named a Company-to-Watch as part of Deloitte’s Technology Fast 50 award, a category that highlights emerging Canadian tech companies that exhibit strong growth and show potential to be a future candidate of the Technology Fast 50 ranking.

Vitruvi’s team and current management will stay on and lead Vitruvi, which will continue to operate as a standalone business with guidance from Bow River. The strategic move is set to fuel Vitruvi’s expansion plans and foster continued innovation in its product offerings.

“We are thrilled to join forces with Bow River Capital and embark on the next chapter of Vitruvi Software’s journey,” said Bryan McIver, CEO of Vitruvi Software.

“This partnership will provide us with the necessary capital and resources to further enhance our software solution and solidify our position as product leader in digital construction management for geospatial projects.”

Bow River Capital’s extensive experience in the tech sector and their history of partnering with innovative software companies make them a great partner for Vitruvi Software. The investment firm’s strategic guidance and financial backing is designed to enable Vitruvi Software to seek to accelerate product development, pursue new market opportunities, and enhance customer experience.

“Vitruvi Software has demonstrated exceptional platform capabilities, an intimate understanding of the digitization of geospatial construction management, combined with a high growth trajectory,” stated Steve Joanis, Managing Director at Bow River Capital.

“We are excited to collaborate with the talented team at Vitruvi Software and provide them with the necessary resources to drive their vision forward. Together, we will endeavor to unlock new avenues for growth and solidify Vitruvi Software’s position as a leading software provider for utility construction.”